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Russia's deficit goal is in jeopardy this year after crude resumed its sell-off, leaving the government few options to stabilize public finances, according to Moody's Investors Service.Taking stock of the budget, hobbled by oil's collapse to the lowest in more than 12 years, Russia is already extending an austerity drive that's without precedent during President Vladimir Putin's 16 years in power. Budget measures totaling 1.5 trillion rubles ($19 billion) are needed to avoid a shortfall of more than 6 percent of gross domestic product this year, according to Siluanov. That includes spending cuts of 10 percent, or 500 billion rubles, he said Jan. 13 .If oil stays at $30 this year, Russia will lose as much as 2.5 trillion rubles in revenue and the budget hole will exceed 3 percent, according to Siluanov. The Finance Ministry wants to keep this year's fiscal gap to 3 percent at an average oil price of $40 a barrel after running a 2.6 percent deficit in 2015, the widest since 2010 .
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